Electronic Arts Inc. (EA) Earns “Market Perform” Rating from Cowen and Company

Cowen and Company restated their market perform rating on shares of Electronic Arts Inc. (NASDAQ:EA) in a report issued on Sunday, July 30th. They currently have a $106.00 price target on the game software company’s stock, up from their prior price target of $90.00.

Several other equities analysts have also recently commented on the stock. Credit Suisse Group restated a buy rating and set a $114.00 price target on shares of Electronic Arts in a report on Sunday, May 28th. Benchmark Co. boosted their target price on shares of Electronic Arts from $114.00 to $131.00 and gave the stock a buy rating in a research report on Tuesday, June 20th. Vetr raised shares of Electronic Arts from a hold rating to a buy rating and set a $99.98 target price for the company in a research report on Monday, May 8th. Robert W. Baird reaffirmed an outperform rating on shares of Electronic Arts in a research report on Thursday, May 11th. Finally, Zacks Investment Research raised shares of Electronic Arts from a sell rating to a hold rating in a research report on Wednesday, May 3rd. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $115.19.

Electronic Arts (NASDAQ:EA) opened at 116.88 on Friday. Electronic Arts has a 12-month low of $73.74 and a 12-month high of $120.25. The stock has a market capitalization of $36.08 billion, a PE ratio of 31.29 and a beta of 0.72. The company has a 50-day moving average price of $113.30 and a 200-day moving average price of $100.72.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.22. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The company had revenue of $775 million during the quarter, compared to the consensus estimate of $768.47 million. During the same period in the previous year, the firm posted $0.07 earnings per share. Electronic Arts’s quarterly revenue was up 13.6% compared to the same quarter last year. Analysts expect that Electronic Arts will post $4.24 earnings per share for the current fiscal year.

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Electronic Arts declared that its board has authorized a share repurchase plan on Tuesday, May 9th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the game software company to reacquire up to 45% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

In other news, SVP Kenneth A. Barker sold 26,701 shares of Electronic Arts stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $109.00, for a total value of $2,910,409.00. Following the completion of the transaction, the senior vice president now owns 39,406 shares of the company’s stock, valued at approximately $4,295,254. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence F. Probst III sold 68,072 shares of Electronic Arts stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $118.83, for a total transaction of $8,088,995.76. Following the completion of the transaction, the director now directly owns 176,348 shares of the company’s stock, valued at approximately $20,955,432.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 337,624 shares of company stock valued at $38,078,825. 2.55% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. D. Scott Neal Inc. bought a new stake in Electronic Arts during the second quarter worth about $120,000. Guardian Life Insurance Co. of America boosted its stake in Electronic Arts by 2.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock worth $107,000 after buying an additional 34 shares in the last quarter. Invictus RG boosted its stake in Electronic Arts by 722.0% in the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after buying an additional 1,148 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Electronic Arts by 310.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock worth $149,000 after buying an additional 1,063 shares in the last quarter. Finally, Captrust Financial Advisors bought a new stake in Electronic Arts during the second quarter worth about $195,000. Institutional investors own 97.31% of the company’s stock.

Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.

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